Depending on the number of jobs and number of new development going on in the area it may just be simple supply and demand.

Your property manager should be supplying monthly reports and year end PnL reports that you give directly to your CPA. 

The rental market is pretty rough here in the Austin area due to a glut of supply.

I know a few more people who's purchasing with him, from what I hear, every single closing was delayed due to supply shortages or other reason. 

There’s just not enough ADU supply (IN MY AREA) for appraisers to base off of.

That is smaller units built with higher density to make the numbers work for both buyers and builders.Adapting to these challenges isn’t easy, but it’s necessary to keep up with the market.What are your thoughts on how builders and developers can address affordability and supply issues. 

To create rental income that enables financial freedom, you need a location that meets specific criteria.Rents increase faster than inflation: Prices and rents are driven by the imbalance between demand and supply.

Rent growth is a function of supply, demand, and interest rates:- I'd ground any forecast by stating I expect national rents to rise on a pace more or less in line with inflation over any long time period. 2-3% per year.

The process went smoothly, and I’m happy I got a tenant so fast, but the high supply of new builds in the area makes me nervous.

And the reason why your "tale of two halves" will play out as you described.Demand:  This has actually been high almost all along, but rent growth hasn't materialized in response due to high levels of new supply.